[Anchor]
Another bad news hit our financial market, which has been stuck in a downtrend since former U.S. President Trump succeeded in regaining power.
Federal Reserve Chairman Jerome Powell indicated his intention to adjust the pace of the base rate cut.
The won and our stock prices started lower as the dollar strengthened, and the KOSPI also gave up 2,400 points.
I'll connect you to a reporter for more information.
Reporter Hwang Bo-hye-kyung, let's look at the exchange rate and our stock market situation first.
[Reporter]
The dark clouds in our stock market are not clearing up.
Today, the KOSPI started at 2,413.05, down 0.24% and fell below the 2,400-point level as it increased its fall.
It is the first time that the KOSPI has given up the 2,400-point level since "Black Monday" in August.
However, Samsung Electronics, which fell to 40,000 electronics, rose to the KRW 50,000 level due to the influx of low-priced purchases.
The KOSDAQ started lower at 675.64, down 0.87%.
Now, the KOSDAQ is showing a downward trend at the early 670 level.
The exchange rate seems to stick to the 1,400 won range. Today, the won-dollar exchange rate started well over 1,400 won.
It opened at 1,408 won, up 2.9 won from yesterday.
The won-dollar exchange rate has been rising and falling in the 1,407 won range. As the exchange rate did not fall below the psychological Maginot line of 1,400 won, the foreign exchange authorities even intervened verbally yesterday.
If the exchange rate instability continues, it has sent a message that it will take market stabilization measures, but it is not working.
[Anchor]
The won and our stock market have been losing steam, so why is that?
[Reporter]
Former U.S. President Trump, who is about to return to power, is advocating his country's priority.
As trade disputes and concerns over high prices grow, the dollar is strengthening.
On top of that, Powell's bad news overlapped.
Overnight, Jerome Powell, chairman of the Federal Reserve, expressed his intention to adjust the pace of the base rate cut, giving a boost to the strong dollar.
Powell said there is a high possibility that interest rates should be lowered slowly and carefully, fearing inflation.The New York Stock Exchange also closed lower as concerns grew that interest rate cuts in
would be put on hold.
It is analyzed that the won and stock prices are falling as the aftermath hits our financial market.
So far, I'm Hwang Bo Hye-kyung on the Korea Exchange.
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